Good day all. Recently, President Trump kept another promise and started putting tariffs in place against all the other countries. I am not totally up on them, but I think the baseline was 10% to begin with. Other countries were hit with far higher tariffs since they have been screwing over the United States for decades.
Since I’m not going to talk much about the tariffs, since I don’t feel I can do so competently, I will acknowledge that Wall Street has been in a panic for the last few days. (Yes, I took a hit to my portfolio, but I also think we are way overdue for a significant correction. I’ll just ride it out and look for bargains)
One of the countries that was really slammed was the People’s Republic of China. They were hit with 20% tariffs on everything they import into the United States. (And that is a lot of stuff) Now the Usual Suspects have decided to sue the Trump Administration and get the courts to order him to end the tariffs, especially on China. Here are the details from The Hill:
President Trump was sued Thursday over the 20 percent tariffs he imposed on Chinese goods in the weeks leading up to Wednesday’s broader announcement.
The lawsuit contests Trump’s use of the International Emergency Economic Powers Act of 1977 (IEEPA), arguing the law authorizes asset freezes and similar economic sanctions, but not tariffs.
“Congress passed the IEEPA to counter external emergencies, not to grant presidents a blank check to write domestic economic policy,” the lawsuit states.
Now I don’t make any claims on how the process for implementing tariffs work. I have heard that President Trump actually does have the authority to do so and that this goes back a number of administrations and has been used before by other presidents. I’ll let others with far more knowledge on this comment below.
The suit was brought by the New Civil Liberties Alliance (NCLA), a conservative legal advocacy group, on behalf of Simplified, a Florida-based small business that sells planners and purchases products from China.
I’ve heard about the NCLA. Basically, as I understand it, they’re the political opposite of the ACLU. They like to go after the administration state, aka the Deep State.
Filed in federal court in Pensacola, Fla., the suit asks a judge to declare Trump’s Chinese tariffs unlawful and block their implementation.
Yeah, good luck with that. Besides the tariffs, this also covers Foreign Policy. That alone is going to give an honest federal judge, (Which lets out all the Obama and Biden judges), real heartburn. One of the reasons for the tariffs is to force other countries that trade with the United States to do actual deals with us. For far to long, the so called “Free Trade” agreements have done nothing but freely trade American Jobs and manufacturing capacity out of the United States and enriched the Chamber of Commerce and Wall Street types.
Many countries we “trade” with, actually block American products or impose tariffs of their own with the idea of protecting their own manufacturing businesses. China is a classic case. We’re already seeing countries calling in to the Administration to look into doing actual trade deals. One of these is Vietnam. (I expect Argentina and Israel are also taking with President Trump and I’ve heard that India is also looking to do a deal)
One of the things that President Trump is also looking to do is to use tariffs to help cut income taxes. He has mentioned that the best case scenario would be to end the income tax altogether. What most people may not know, until the ratification of the 16th Amendment, taxing people’s and businesses income was unconstitutional. We used tariffs to pay for a big chunk of the government. Once the 16th Amendment was ratified in 1913, the looting of the American people began in earnest.
Since the end of World War Two, we have seen the United States engage in some really bad trade deals with various nations. This was done to try and block the Soviet Union from taking over a country. These deals were done under the banner of “Free Trade!” It was also part of the TransNational Globalists plan to set up a global economy with, bluntly, the United States paying for it.
Part of this was also working to split Communist China away from the USSR. Once Mao was safely out of the way, (By being solidly dead and embalmed), his successors decided to open up their markets to some extent. What they actually did was arrange it so it was far cheaper to produce goods there then it was anywhere else, especially in the United States. Many manufacturing corporations shipped their plants to China.
With the Panicdemic of 2020 and the literal carnage caused to the economy of the United States by people like Anthony Fauci and others, certain people suddenly realized that “Hey! We can’t make these things anymore.” During President Trump’s first term, he put some tariffs in place and companies started moving their plants back to the Good Old U.S of A and out of China.
When Biden was installed, he killed all of that. The damage his maladministration did is going to take years to fix. Now President Trump is keeping another one of his promises. Why this is so surprising to people is beyond me. President Trump is a believer in Fair Trade, not Free Trade. Yes, there is a difference. Fair trade has two nations exchanging goods and services and they aren’t raising roadblocks against the other. Tariffs can be a part of a fair trade agreement. Both parties agree to low tariffs and they keep their agreement.
Free Trade? Yeah, they don’t do that. By rights free trade should work that way, but we have decades of experience showing it doesn’t. Now President Trump is using Tariffs to protect and improve the American manufacturing base, and to force other countries to the negotiating table. Will people get hurt? Yes they will, however this is short term.
Are companies going to suffer and perhaps fail because they went all in on the TransNational Globalist idea of a world economy? Of course. However, some companies are already looking at profiting from the tariffs. They kept most of their manufacturing inside the United States even though it cost them money. However, the world is changing again and President Trump intends for the United States to be on top.
Thatisall
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